For brokerages these days, relationships with hedge funds are key because of the amount of commissions they generate.
GMP Capital recently lost a group of Montreal traders recently who focused on hedge funds. However, the firm has a new trader with a specialty in hedge funds.
The firm is hiring Shawn Nodder from CIBC to be a liability trader. He will start in February.
Mr. Nodder previously worked at Merrill Lynch, where he was a hedge fund liability trader.